Texas Permanent School Fund Corp Has $2.13 Million Stock Holdings in State Street Corporation $STT

Texas Permanent School Fund Corp decreased its stake in State Street Corporation (NYSE:STT) by 35.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,069 shares of the asset manager’s stock after selling 10,817 shares during the period. Texas Permanent School Fund Corp’s holdings in State Street were worth $2,134,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STT. Invesco Ltd. increased its holdings in shares of State Street by 4.7% during the second quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock worth $910,934,000 after buying an additional 381,547 shares in the last quarter. Dodge & Cox grew its position in State Street by 1.1% during the 2nd quarter. Dodge & Cox now owns 7,412,414 shares of the asset manager’s stock worth $788,236,000 after acquiring an additional 80,855 shares during the last quarter. Geode Capital Management LLC increased its holdings in State Street by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,412,130 shares of the asset manager’s stock worth $784,930,000 after purchasing an additional 27,098 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in State Street by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,713,415 shares of the asset manager’s stock valued at $242,932,000 after purchasing an additional 49,353 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of State Street by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,696,326 shares of the asset manager’s stock valued at $241,403,000 after purchasing an additional 387,196 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $117.24, for a total value of $175,860.00. Following the transaction, the executive vice president directly owned 38,626 shares of the company’s stock, valued at $4,528,512.24. The trade was a 3.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company’s stock.

State Street Stock Up 0.9%

Shares of NYSE STT opened at $128.51 on Monday. The company’s 50 day moving average price is $118.81 and its 200-day moving average price is $112.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $131.36. The company has a market capitalization of $35.89 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 1.19 and a beta of 1.44.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.21. State Street had a net margin of 13.14% and a return on equity of 13.37%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the prior year, the company posted $2.26 earnings per share. State Street’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts forecast that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 35.56%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on STT shares. Citigroup upped their price objective on State Street from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Cowen reissued a “buy” rating on shares of State Street in a report on Tuesday, October 21st. Zacks Research downgraded shares of State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Truist Financial cut their price target on shares of State Street from $133.00 to $131.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Finally, The Goldman Sachs Group boosted their price objective on shares of State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, State Street currently has an average rating of “Moderate Buy” and an average price target of $129.00.

State Street Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.